Ensign Peak Advisors Inc increased its position in Ares Management Co. (NYSE:ARES - Free Report) by 48.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,284 shares of the asset manager's stock after acquiring an additional 64,981 shares during the period. Ensign Peak Advisors Inc owned approximately 0.06% of Ares Management worth $35,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Ares Management in the 4th quarter worth $335,858,000. Charles Schwab Investment Management Inc. raised its stake in shares of Ares Management by 4.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 715,258 shares of the asset manager's stock valued at $126,622,000 after buying an additional 32,273 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Ares Management by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,244,179 shares of the asset manager's stock valued at $1,284,773,000 after buying an additional 679,462 shares during the last quarter. Caldwell Investment Management Ltd. raised its stake in shares of Ares Management by 134.1% during the 4th quarter. Caldwell Investment Management Ltd. now owns 10,300 shares of the asset manager's stock valued at $1,842,000 after buying an additional 5,900 shares during the last quarter. Finally, Donoghue Forlines LLC purchased a new position in shares of Ares Management during the 4th quarter valued at about $1,498,000. Hedge funds and other institutional investors own 50.03% of the company's stock.
Wall Street Analyst Weigh In
ARES has been the subject of a number of recent research reports. Morgan Stanley reduced their price objective on Ares Management from $197.00 to $152.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Wolfe Research set a $193.00 price target on Ares Management and gave the company an "outperform" rating in a research note on Tuesday, May 6th. JMP Securities lifted their price target on Ares Management from $165.00 to $185.00 and gave the company a "market outperform" rating in a research note on Thursday, May 8th. The Goldman Sachs Group cut their price target on Ares Management from $188.00 to $166.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Finally, Bank of America cut their price target on Ares Management from $221.00 to $201.00 and set a "buy" rating for the company in a research note on Friday, April 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Ares Management presently has an average rating of "Moderate Buy" and a consensus price target of $174.50.
View Our Latest Stock Analysis on Ares Management
Insider Buying and Selling
In related news, Chairman Bennett Rosenthal sold 69,809 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $161.01, for a total transaction of $11,239,947.09. Following the sale, the chairman now owns 30,191 shares in the company, valued at approximately $4,861,052.91. This trade represents a 69.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Arougheti sold 110,845 shares of Ares Management stock in a transaction on Monday, March 24th. The shares were sold at an average price of $153.17, for a total transaction of $16,978,128.65. Following the completion of the transaction, the chief executive officer now owns 1,400,000 shares in the company, valued at approximately $214,438,000. This trade represents a 7.34% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 250,180 shares of company stock worth $39,411,066. 36.86% of the stock is owned by insiders.
Ares Management Stock Performance
NYSE:ARES traded up $3.16 during mid-day trading on Wednesday, reaching $175.66. The stock had a trading volume of 1,817,860 shares, compared to its average volume of 1,419,197. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $55.40 billion, a price-to-earnings ratio of 86.53, a PEG ratio of 1.28 and a beta of 1.40. Ares Management Co. has a twelve month low of $110.63 and a twelve month high of $200.49. The business has a 50 day simple moving average of $147.00 and a 200 day simple moving average of $167.57.
Ares Management (NYSE:ARES - Get Free Report) last issued its earnings results on Monday, May 5th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.15. Ares Management had a net margin of 11.35% and a return on equity of 16.64%. The company had revenue of $951.96 million during the quarter, compared to analysts' expectations of $914.00 million. During the same period last year, the company posted $0.80 earnings per share. On average, analysts expect that Ares Management Co. will post 5.28 earnings per share for the current fiscal year.
Ares Management Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a dividend of $1.12 per share. The ex-dividend date is Monday, June 16th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.55%. Ares Management's dividend payout ratio (DPR) is 263.53%.
About Ares Management
(
Free Report)
Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.
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